28,413 Shares in Automatic Data Processing, Inc. $ADP Purchased by Notis McConarty Edward

Notis McConarty Edward bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 28,413 shares of the business services provider’s stock, valued at approximately $6,363,000. Automatic Data Processing makes up about 2.7% of Notis McConarty Edward’s holdings, making the stock its 13th largest holding.

Several other large investors have also recently bought and sold shares of ADP. Imprint Wealth LLC acquired a new stake in shares of Automatic Data Processing in the 3rd quarter worth approximately $25,000. Cornerstone Financial Management LLC bought a new position in shares of Automatic Data Processing in the fourth quarter valued at approximately $26,000. Bard Associates Inc. bought a new position in shares of Automatic Data Processing in the fourth quarter valued at approximately $28,000. Prosperity Bancshares Inc acquired a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $33,000. Finally, High Point Wealth Management LLC acquired a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP opened at $277.22 on Thursday. The firm’s 50 day moving average is $247.50 and its 200-day moving average is $225.70. The stock has a market capitalization of $110.13 billion, a P/E ratio of 25.34 and a beta of 0.81. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $310.08.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The business had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the previous year, the firm earned $2.26 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $6.80 annualized dividend and a dividend yield of 2.5%. Automatic Data Processing’s dividend payout ratio is currently 62.16%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ADP. Mizuho cut their target price on Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. Wells Fargo & Company increased their price target on Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Robert W. Baird lowered their price target on Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. Citigroup boosted their price objective on Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Finally, Jefferies Financial Group cut their price objective on Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $273.50.

Insider Activity

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total value of $641,206.68. Following the transaction, the vice president owned 9,660 shares of the company’s stock, valued at approximately $2,565,889.20. This represents a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.20% of the company’s stock.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.